Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Sara Lee to cut 390 jobs in Europe

Posted: September 16th, 2010 | Author: | Filed under: UK | Tags: | No Comments »

Sara Lee Corp. is cutting 390 jobs in Europe over the next few years following the sale of its household and body care businesses.

The company has sold its Ambi Pure air freshener business to Procter & Gamble Co. and its stake in a joint venture in India that makes insecticides. It also has agreed to sell its body care business to Unilever NV and its remaining insecticide business to SC Johnson.

Sara Lee has trimmed its ancillary business units recently to focus on its core food and beverage business.

Sara Lee said the positions had become redundant and anticipates saving approximately $39 million as a result of the job cuts.

More on Recession and Job Cuts -

Leave a Reply